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Is it really a bet if there's no clearly-defined winning or losing conditions? What dates would you use to calculate the prices of the things mentioned? What
by tomku 14y ago
Is it really a bet if there's no clearly-defined winning or losing conditions? What dates would you use to calculate the prices of the things mentioned? What "stock market", DJI? NASDAQ? FTSE? Something more exotic? Do bitcoins have to outperform "the stock market" and those commodities individually, or some kind of average?
Seems like more of a publicity stunt by someone who knows that nobody with $10k to throw around is foolish enough to agree to such ill-defined terms.
- maxerickson 14y agoThe site still calls it a prediction: http://longbets.org/predictions/ http://longbets.org/predictions/
- taligent 14y agoExactly Bitcoin is the equivalent of a pyramid scheme. It rewards the early adopters and needs new users for the whole scheme to succeed. This 'bet' is nothing more than a publicity stunt to convince people that Bitcoin is a no-brainer investment.
- earnon 14y agoIt's not a pyramid scheme. Although it does reward early adopters for taking a risk, eventually price should stabilize at a real world value (as opposed to a dollar value. As long as we keep printing dollars, the real world value of a dollar will decrease. The value of a bitcoin should always increase relative to the dollar).
- CamperBob2 14y agoAs long as we keep printing dollars, the real world value of a dollar will decrease. Assuming no corresponding productivity gains occur.